Xuanzhu Biopharmaceutical Co., Ltd. (Ticker: 2575 HK) is a China-based biopharmaceutical company specializing in the development of small-molecule and macromolecular drugs targeting digestive diseases, oncology, and non-alcoholic steatohepatitis (NASH). Xuanzhu plans to list its H-shares on the Hong Kong Stock Exchange (Main Board) on October 15, 2025, offering 67.33 million shares at HKD 11.60 per share, raising approximately HKD 781.1 million (USD 100.35 million). The company is valued at around USD 771.9 million at the offer. Xuanzhu was established following Sihuan Pharmaceutical Holdings Group Ltd.’s acquisition of Shandong Xuanzhu Pharma in 2008 and has since developed a robust R&D platform with a diversified drug pipeline, including three approved products: KBP-3571 (PPI for digestive diseases), XZP-3287 (CDK4/6 inhibitor for breast cancer), and XZP-3621 (ALK inhibitor for NSCLC). All offered shares are primary, with a 15% greenshoe option available.